Safe Bulkers (NYSE:SB) Stock Rating Lowered by StockNews.com

Safe Bulkers (NYSE:SB) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research report on Thursday, November 14th.

Safe Bulkers Stock Down 3.5 %

SB opened at $3.84 on Tuesday. The business’s 50-day simple moving average is $4.53 and its 200-day simple moving average is $5.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34. Safe Bulkers has a one year low of $3.45 and a one year high of $6.33. The stock has a market capitalization of $410.04 million, a P/E ratio of 4.27 and a beta of 0.95.

Hedge Funds Weigh In On Safe Bulkers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC grew its holdings in shares of Safe Bulkers by 269.0% during the third quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after buying an additional 7,800 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Safe Bulkers during the third quarter worth about $86,000. Banque Cantonale Vaudoise grew its holdings in shares of Safe Bulkers by 14.4% during the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after buying an additional 2,129 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Safe Bulkers during the third quarter worth about $90,000. Finally, Victory Capital Management Inc. purchased a new stake in Safe Bulkers in the 2nd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

About Safe Bulkers

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.